AFC Gamma

AFCG stock is not Shariah-compliant

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About AFC Gamma (AFCG)

AFC Gamma originates, structures, underwrites, and invests in senior secured loans, and other types of loans and debt securities for established companies operating in the cannabis industry in states that have legalized medicinal and/or adult use cannabis. It primarily originates loans structured as senior loans secured by real estate, equipment, and licenses and/or other assets of the loan parties to the extent permitted by applicable laws and the regulations governing such loan parties. AFC Gamma has elected and qualified to be taxed as a real estate investment trust for the United States federal income tax purposes under the Internal Revenue Code of 1986.

Frequently asked questions

Is AFC Gamma (AFCG) stock halal to invest in?
As of , AFCG is not Shariah-compliant and therefore considered halal to invest in. This assessment is based on the data available in AFC Gamma's most recent financial reports.
As of , AFCG is not Shariah-compliant and therefore not considered halal to invest in. This assessment is based on the data available in AFC Gamma's most recent financial reports.
As of , AFCG is flagged as not Shariah-compliant in terms of Shariah compliance based on the company's latest financial reports. This means that while the company's operations do not definitively violate Islamic guidelines, there are certain aspects of AFC Gamma's business that require careful consideration.
Does AFC Gamma have any interest income?
Yes, AFC Gamma does have interest income. According to the company's latest annual report for the fiscal year ending Dec 31, 2023, AFC Gamma reported revenue of 69194611 and interest income of 70535087. The interest income represents 50.48% of the combined total. It's worth noting that some companies may report additional interest income as part of their revenue. For a detailed breakdown of all interest income and revenue segments, please refer to the full Shariah compliance report available in the Zoya app.
No, AFC Gamma has not reported any interest income. According to the company's latest annual report for the fiscal year ending Dec 31, 2023, AFC Gamma reported total revenue of 69194611, with no separate interest income disclosed. However, it's worth noting that some companies may report interest income as part of their revenue. For a detailed breakdown of all interest income and revenue segments, please refer to the full Shariah compliance report available in the Zoya app.
What guidelines are used to determine if AFC Gamma stock is Shariah-compliant?
We use the guidelines set by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) to assess Shariah compliance. AAOIFI is a leading international organization that establishes standards for Islamic finance. Their guidelines help determine if a company's business activities and financial structure align with Islamic principles. These standards are widely respected in the Islamic finance industry and provide a consistent framework for evaluating the Shariah compliance of stocks and other financial instruments. AAOIFI's Shariah board includes renowned scholars such as Sheikh Muhammad Taqi Usmani, Sheikh AbdulSattar Abu Ghuddah, and Sheikh Abdullah AlManea.
How often is AFC Gamma stock reviewed for Shariah compliance?
The Shariah compliance status of AFC Gamma stock is reviewed on a regular basis, with a minimum frequency of once per quarter. However, if there are any significant changes or major developments in the company's operations that may impact its compliance, an immediate review will be conducted to ensure ongoing adherence to Shariah principles.
How can I stay updated on AFC Gamma's compliance status?
To stay informed, we recommend regularly checking Zoya for updates. You can also enable alerts within the Zoya app to receive notifications whenever there is a change in the Shariah compliance of AFCG, or any other stocks you are monitoring. This is particularly useful as Shariah compliance can fluctuate due to changes in a company's financial ratios or business activities.
Are dividends from AFC Gamma stock considered halal?
Yes, dividends from AFCG are considered halal. However, you may need to purify a portion of the dividend if the company has any impermissible revenue. Shariah standards typically allow up to 5% of revenue from impermissible sources for a stock to remain compliant. To find the exact percentage of impermissible revenue for AFC Gamma (AFCG), check the Zoya app. For more details on the purification process, read our comprehensive guide.
No, dividends from AFCG are not considered halal because the stock is currently not Shariah-compliant. When a stock is non-compliant, any dividends received from it are considered impermissible income and should be donated to charity as a form of purification. To learn more about the purification process and how to handle impermissible income, read our comprehensive guide.
Do I need to pay Zakat on my AFC Gamma shares?
If you hold AFC Gamma stock as an investment, through an Employee Stock Ownership Plan (ESOP), stock options, restricted stock units (RSUs), or any other form of stock ownership, and meet the Nisab threshold, you may be required to pay Zakat on it. The calculation of Zakat on investments can be complex and depends on various factors. To help make this easy, we've created a free Zakat calculator for stocks. For a more seamless experience, use the Zoya mobile app, where you can link your brokerage account to automatically import holdings.

How to buy AFC Gamma (AFCG) stock on Zoya

  1. Sign up for a free Zoya account
    It’s easy to get started. You can sign up for an account directly on our website or by downloading the Zoya app for iOS or Android.
  2. Link a brokerage account
    Zoya partners with leading brokerages like Alpaca and others for a seamless way to buy and manage stocks through Zoya.
  3. Decide how much to invest
    Navigate to the search screen and type the name of the stock into the search bar. Then, click the buy button and input the amount you'd like to invest, either in terms of dollars or number of shares. Review the real-time stock price and estimated quantity of shares before confirming your investment.
  4. Manage your portfolio in one place
    You can find your newly purchased stock in your Zoya portfolio alongside the rest of your holdings. Enable alerts to get notified of any changes in your portfolio's Shariah compliance.

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